The Governor of the Reserve Bank of New Zealand - the front man for our existing economic pain - has a few things he wants you to know.
“Inflation is the big evil, not higher, nominal interest rates.”
But: “Don’t fret inflation, it’s going away.”
In an extensive interview on today’s episode of Markets with Madison, mortgage-free Adrian Orr explained how his plan was working - rate hikes had lowered inflation, sent the the economy into a recession, some of us were spending less (himself included) and taking on less debt, while the majority still had jobs.
“I would feel bad about it if I didn’t think it was for the long-term benefit of the country,” Adrian Orr said.
